Trovagene, Inc. Announces Closing of $15 Million Registered Direct Offering of
SAN DIEGO, July 31, 2013
SAN DIEGO, July 31, 2013 /PRNewswire/ -- Trovagene, Inc. (NASDAQ:TROV), a
developer of cell-free molecular diagnostics, today announced that it has
closed a registered direct offering of $15 million of common stock at a price
of $7.00 per share. The shares were sold directly to an institutional
investor by the Company.
Trovagene intends to use the net proceeds from the offering to fund its
research and development activities and for working capital and other general
The securities described above are being offered pursuant to a shelf
registration statement (File No. 333-186196), which was declared effective by
the United States Securities and Exchange Commission ("SEC") on February 4,
2013. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein, nor
shall there be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
When filed with the SEC, copies of the prospectus supplement and the
accompanying base prospectus relating to this offering may be obtained at the
SEC's website at http://www.sec.gov.
About Trovagene, Inc.
Headquartered in San Diego, California, Trovagene is leveraging its patented
technology for the detection of cell-free DNA and RNA, short nucleic acid
fragments, originating from normal and diseased cell death that can be
isolated and detected from urine. Trovagene has a strong intellectual property
asset as it relates to cell-free DNA and RNA testing in urine. It has U.S. and
European patent applications and issued patents that cover testing for HPV and
other infectious diseases, cancer, transplantation, prenatal and genetic
Certain statements in this press release are forward-looking within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward-looking words such as
"anticipate," "believe," "forecast," "estimated" and "intend," among others.
These forward-looking statements are based on Trovagene's current expectations
and actual results could differ materially. There are a number of factors that
could cause actual events to differ materially from those indicated by such
forward-looking statements. These factors include, but are not limited to,
substantial competition; our ability to continue as a going concern; our need
for additional financing; uncertainties of patent protection and litigation;
uncertainties of government or fourth party payer reimbursement; limited sales
and marketing efforts and dependence upon fourth parties; and risks related to
failure to obtain FDA clearances or approvals and noncompliance with FDA
regulations. As with any medical diagnostic tests under development, there are
significant risks in the development, regulatory approval and
commercialization of new products. There are no guarantees that future
clinical trials discussed in this press release will be completed or
successful or that any product will receive regulatory approval for any
indication or prove to be commercially successful. Trovagene does not
undertake an obligation to update or revise any forward-looking statement.
Investors should read the risk factors set forth in Trovagene's Form 10-K for
the year ended December 31, 2012 and other periodic reports filed with the
Securities and Exchange Commission.
Financial Investor Relations
Stephen Zaniboni Amy Caterina
Chief Financial Officer Investor Relations
Trovagene, Inc. Trovagene, Inc.
SOURCE Trovagene, Inc.
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